In: Social Issues
...its commitment to stakeholders and as a result pose a threat to its profitability. Since 2001 Amazon’s list of legal complaints continue to grow. The spectrum of the company’s legal issues touch the overseas market, and national competitors. It is necessary for Amazon to implement a strategic initiative to minimize, closeout, and prevent future litigation. Those initiatives must include actions the company can take to protect better the corporation in the future (ehow, 2012). Of the 26 pending litigations the company faces, 22 relates to patent infringements. One litigation involves a subsidiary of Amazon. The claim by litigants is that the subsidiary failed to disclose that the underwriters allegedly solicited and received excessive commission from investors. The report identifies two lawsuits of failure to remit sales and use taxes, and one international lawsuit pertaining to failing to pay tariffs on digital media. The final lawsuits...
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...Memorandum To: Lawsuit files From: Andrew Lederman Date: 3/6/2016 Re: Accounting for Lawsuit Damages Facts Our company has been named as a defendant in a pending lawsuit. The plaintiff is suing for $5 million in damages, the attorneys believe that the losses could amount anywhere in the range of $1 million and $3 million, with no amount in the range more likely than the next. Issues 1. Is the lawsuit considered a loss contingency? 2. Will the loss be accrued, and if so for what amount? 3. What disclosures should be made in the company’s financial Statement? Analysis – Issue 1: Is the lawsuit considered a loss contingency? FASB Accounting Standards (ASC) 450-20 provides information on contingencies, covering the definition of a loss contingency as well as providing examples of loss contingencies. Contingencies are described in (ASC) 450-20-20 as follows: Contingency: An existing condition, situation, or set of circumstances involving uncertainty as to possible gain (gain contingency) or loss (loss contingency) to an entity that will ultimately be resolved when one or more future events occur or fail to occur. As can be seen the company has an existing situation (lawsuit) involving uncertainty (estimated range of $1-3 million in damages) which could make it considered a contingency. FASB goes on to describe loss contingency as a “set of circumstances involving uncertainty as to possible loss”, making this a loss contingency. FASB Accounting......
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...RI-25, this opinion was decided May 18, 1989. A conflict of interest will arise when a lawyer can’t represent a client when they have a personal situation between the two that will adversely affect the lawyer’s representation of a client. A client was working with two separate law firms on unrelated matters. The client was dissatisfied with the representation they received from one firm, and filed a malpractice suit. Later those two firms merged into one firm. This opinion looks to address three questions: 1. Can the successor firm can continue to represent the same client using any member, including the sued lawyer? 2. Can the successor firm represent the client in the pending matters through members excluding the sued lawyer? 3. Can the successor firm represent the client with respect to one or more matters pending at the time of filing of malpractice suit against the individual lawyer and predecessor firm using lawyers who were not members of the predecessor firm? The lawyer must examine the situation impartially and carefully in a thought out manner, and arrive at a conclusion that the interest of the client in the ongoing matter as well as the future representation of the client will not be adversely affect. The test should consider how the confidentiality of the information protected by the lawyer-client privilege, as well as other secrets of the client will be handled in the future. The lawyer must believe the clients interest will not be adversely affected. If the......
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...2012, it has been estimated that an average 5,000 lawsuits filed against Wal-Mart each year. “According to Forbes magazine when an employee starts his shift at 9A.M, three lawsuits will be filed against the company by the time he or she takes a coffee break at 10:30 A.M” (Riper, 2005). Walmart management has violated several employment laws, and they were aware for many years that they had problems companywide concerning Fair Labor Standard Act, but they still chose to ignore it without any sufficient action. The following are just few highlighted and noted violation Walmart has made: * Extensive violation of Child labor * Sexual discrimination (different wages and promotion standards for men and women) * Exploitation of illegal immigrants. * Violation of state regulation, requiring time for breaks and meals. An internal audit of Walmart for one week of time record indicated the following: * 60,767 missed breaks * 15,705 lost meal times * 1,371 instances of minors working long hours or during school hours. Despite the knowledge of this violation's by the management, they still continued to take place till someone filed a lawsuit against the organization. Since 1999 Walmart has settled multiple lawsuits amounting in excess of $500 million. Even with these lawsuits the company hasn't changed the way it handles the employee issues. As of now Walmart has 76 wages, hour and overtime cases still pending against them. Women Vs Wal-Mart Betty......
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...are held accountable for the allege acts of them performing their duty. How has the unethical behavior affected the organization, the individual, and society? These affect the police organization in not professional way. One way is that it makes them look guilty that all charges were drop against the homeowners. The way, today’s society looks at an issue such as that is admission of guilt. Any time a party settles out of court, it makes it look like that parties involve was wrong for what they did. Now the department will now to have spend money on additional training for their employees. This will results in doing one interviews with each officers discussing pros and cons. This may result in additional monetary outcomes such as a lawsuit is pending from the homeowners against the city. See when...
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...December 31 2007, your company determined that a loss in connection to the claim was probable. • The company estimated a loss between 15 and $20 million USD. • $17 million USD was named as the most likely amount of loss. • A jury trial took place on September 2009. • On September 24 2009 the jury found in favor of W. • The judgment required your company to pay W $18.5 million USD. • In November 2009, your company filed an appeal. • In December 2010, the court of appeals overturned the jury verdict and the $18.5 million judgement. • On January 6th 2011 W filed a petition for re-hearing. • On February 10, 2011, the appellate judges declined W’s petition. • On February 28 2011, the company’s management determined that the lawsuit was closed. Specific Issue 1: For the year ended December 31 2007, financial statements, what amounts should the company record as a liability? Options: The company could record the liability at 15 million, $17 million, or $20 million. Before deciding what amount to accrue, we should determine if the contingency qualifies for accrual. According to ASC 450-20-25-2, a loss contingency must be accrued if “the information available…indicates that it is probable that… a liability had been incurred at the date of the financial statements, and the amount of loss can be reasonably estimated.” Your company’s management has determined that the loss is probable, and has estimated a range for the amount of loss. Based on this......
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...Pegasus’ other accessories such as SkateSails. The aftermarket skate accessory market has been largely ignored. Although there are several major manufacturers of the skates themselves, the accessory market has not been addressed. This provides Pegasus with an extraordinary opportunity for market growth. Skating is a booming sport. Currently, most of the skating is recre- ational. There are, however, a growing number of skating competitions, including team-oriented competitions such as skate hockey as well as individual competitions such as speed skate racing. Pegasus will work to grow these markets and develop the skate transportation market, a more utilitarian use of skating. Several of Pegasus’ currently developed products have patents pending, and local market research indicates that there is great demand for these products. Pegasus will achieve fast, sig- nificant market penetration through a solid business model, long-range planning, and a strong management team that is able to execute this exciting opportunity. The three principals on the management team have over 30 years of combined personal and industry experience. This extensive experience provides Pegasus with the empirical information as well as the passion to provide the skating market with much-needed aftermarket products. Pegasus will sell its products initially through its Web site. This “Dell” direct-to-the-consumer approach will allow Pegasus to achieve higher margins and maintain a close relationship with......
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...State of Confusion Paper BUS/415 There are several stages to a civil lawsuit. The first stage is Pleadings. This starts off with the original court documents and involves one party that files the complaint. These documents state the initial plaintiff’s argument or case against the other party, also known as the defendant. This allows the defendant to have knowledge of the plaintiff’s facts amid legal grounds of their claims. At times when suing another party they may arise to suing you back, if in that case such a situation occurs, you will then fight back in court while also trying to defend yourself. Then a counterclaim can be filed by the defendant if they have an independent claim against the plaintiff. The second stage is Discovery. This includes depositions which entails the parties of deposing or interviewing under oath before the start of the trial. There are a few types discovery. One is written discovery which has its own two forms; Interrogatories and Requests for admission. Interrogatories are the questions that in your own version of the claims. Requests of admission mainly ask the party to deny or admit to the facts stated in the claim. Penalties can come about if not answered, or answered if false manner. Discovery can also include subpoenas from the court ordering individuals or organizations to produce certain documentation, interview under oath, or answer any written questions which would be the second form of discovery. The third is depositions. ......
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...MEMORANDUM OF POINTS AND AUTHORITIES IN OPPOSITION TO PLAINTIFF’S MOTION TO DISMISS OR STAY OF A PERMANENT INJUNCTION I. INTRODUCTION This Memorandum of Points and Authority is submitted by Floyd Industries, LLC, and Sandra Floyd (herein collectively referred to as “Petitioners”) in opposition to Orin Rettick (“Rettick”)’s motion to dismiss, or in the alternative, for a stay of a permanent injunction filed by Petitioners in this Court. Petitioners request this Court to grant Petitioners’ request for a permanent injunction of Rettick’s claim in the Tribal Court of the Taraconic Tribe. The Tribal Court of the Taraconic Tribe does not have adjudicatory jurisdiction over Rettick’s tort claim a gainst P etitioners because neither Floyd Industries, LLC, nor Sandra Floyd are members of the Taraconic Tribe, because the fact that the clai m arose on tribal land is non-dispositive for jurisdiction, and because Rettick’s claim did not meet any of the ex ceptions for the general rule of limited exercise of inherent tribal power. Rettick’s claim did not meet the exceptions because his claim presents a simple torts claim that neither threatens the self -government of the tribe nor suggests the claim is contractual in nature. Because it is clear that the tribal court lacks jurisdiction over the claim, Petitioners request this Court to exercise jurisdiction over this case without waiting for exhaustion of claims in the tribal court. Accordingly, Petitioners request this......
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...Scenario 1 Quarterback vs Opposing Player The tort actions caused by the opposing player during the football game were intentional. The reason is because the opposing player did try to tackle the quarterback. The plaintiff in this case would be the quarterback. The opposing player would be the defendant because he is the person who intentionally tried to hit or tackle the quarterback. The quarterback has the right to sue the opposing player because the hit was an intentional battery. This claim will be difficult for the plaintiff to win in court because football is a dangerous sport that consists of many risks. Malik vs Quarterback Malik is the fan who got injured by ball that was thrown by the quarterback. Malik is considered to be the plaintiff while the defendant is the quarterback. The quarterback is the defendant because he unintentionally assaulted Malik. Malik will sue the quarterback because he was injured by the football. The quarterback in this case owed a duty of care to the plaintiff by carefully throwing or aiming the ball away from the stands. Malik vs Daniel Daniel got really upset at Malik because he spilled cold beer on his 8 year old son Ruben. Taking matters into his own hands, Daniel shoved Malik causing him to fall and hit the aisle steps, knocking out two front teeth. Malik will sue Daniel. In this case, Malik would be the plaintiff and Daniel would be the defendant because he intentionally used assault and battery through......
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...matters that involve private parties and organizations. An action by an individual against the attorney general is a civil matter, but if the state is represented by the attorney general or other agent from the state and takes action against an individual, this is no longer civil law but instead this is now public law. The objective of civil law differs from other law. Civil law attempts to right a wrong, settle a dispute, or honor an agreement. The victim is being compensated by the at-fault party, which is a legal alternative to, or civilized form of, revenge. There is often a pie of division and is allocated by the process of civil law, probably by invoking the doctrines of equity, in cases of an equity matter. Criminal lawsuits differ from civil lawsuits in that the criminal prosecutions are intended to convict and...
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...hitches was not made to create safer roadways. This was created to make each truck driver to stop upon entering the state, purchase the new hitch, and then continue onwards. Therefore this statute can be considered unconstitutional on the means of it being solely created to produce extra income for the state. The Commerce clause determines whether or not a federal statute in constitutional, as well as allowing Congress to regulate the clause based on the channels of interstate commerce, persons or things in interstate commerce, or activities that relate to the latter. Because the statute involves the highway commerce, the court must determine whether or not this law set up by Confusion has any validity. Tanya will most certainly win this lawsuit against the State of Confusion. Requiring a B-type hitch when...
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...write about anything they want, and it could be easy for them to change the minds of individuals on a certain situation or case. Everyone already knows that the internet articles and newspaper are the voice of the people, so when someone can be innocent can easily be viewed as a criminal. They usually value money more than public effect. “For example, if the press put up a story that is undermining the efficiency of the government, all the people will change their attitudes toward the government and they may feel totally exploited. This will cause a great drift in the economy of the country since many people will refuse to pay taxes.” “the press doesn’t have blanket immunity for its mistakes. But they get especially strong protection from lawsuits for libel and slander when they cover Public Figures.” There have also been many of cases were the press has lied and been sued but used the first amendment to get away with being charged with anything. “Florida Appeals Court Orders Akre-Wilson Must Pay Trial Costs for $24.3 Billion Fox Television; Couple Warns Journalists of Danger to Free Speech, Whistle Blower Protection” “Akre and Wilson sued the Fox station and on August 18, 2000, a Florida jury unanimously decided that Akre was wrongfully fired by Fox Television when she refused to broadcast (in the jury’s words) “a false, distorted or slanted story” about the widespread use of BGH in dairy cows. They further maintained that she deserved protection under Florida’s whistle......
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...plaintiff, Stella Liebeck in much publicized lawsuit, “hot coffee case”. It is the social responsibility of the company to look into the agony faced by the consumers in relation to its product, and this is where McDonalds fall short. The incident: The accident took place on 27th February, 1992, in Albuquerque, when Stella Lei beck along with her grandson ordered a McBreakfast at McDonald’s drive-thru on the way home. She was in the passenger’s seat, during her attempt to add cream and sugar in the coffee, inside stationary car, the scalding coffee spilled onto her lap. McDonald’s coffee was exceedingly hot, around 170 degree against the industry standard of 120-130 degree, within three seconds it caused third-degree burns on Stella’s groin area. She suffered numerous torments both physical and mental in the course of recuperation which took almost two years. After two years Stella sent a letter explaining the incident to McDonalds, her intent was not to claim for compensatory damage or filing a lawsuit for it, but to admonish them against the repercussions of their dangerously hot coffee posed. Her polite request to lower the coffee temperature was in the public interest. Past Action: The accident was not first of its kind for the McDonalds and the management was well aware of the fact that the incident is in the capacity to produce a potential lawsuit. They’ve faced 700 instances of burns between 1982-1991 and many lawsuits which were settled out of court. They’ve......
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...com/2011/03/22/nyregion/22appraisal.html?_r=1&scp=2&sq=breach%20of%20contract&st=cse | | | |(APA Style) | |COMMENTS – fully address all questions on the instruction sheet; add additional page if needed. | | | |1. Summarize the facts that occurred that led to a lawsuit. |...
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